Fitch Lifts Adani Energy Rating Watch

• Equity benchmark indices, the Sensex and Nifty 50, dropped sharply from the day's highs to close in the red on March 10, weighed down by weak global cues and concerns over U.S. tariffs.

• Market sentiment remained under pressure amid rising U.S. unemployment and trade uncertainties, signalling continued volatility in the near term. While domestic macros support selective accumulation of beaten-down stocks, caution is advised in the short term, with long-term prospects appearing favourable.

• Among NSE sectoral indices, all except FMCG ended lower, with Nifty PSU Bank and Nifty Auto seeing the steepest declines of 1.86% and 1.22%, respectively.

Bodal Chemicals +15.31%

• Bodal Chemicals stock surged 18% in early trade after the government imposed an anti-dumping duty on Trichloro Isocyanuric Acid (TCCA) imports.

• The company recently started TCCA production at its Unit 11 in Khambhat, making it the sole Indian producer and positioning it to benefit from higher import duties boosting its bottom line.

BSE (4.68%)

• BSE shares fell after Goldman Sachs lowered its price target for the second time in a week, maintaining a ‘Neutral’ rating and cutting the target to ₹4,230 per share.

• The brokerage cited concerns over the NSE's expiry day shift from Thursday to Monday (effective April 4), which is expected to hurt BSE’s options market share.

• Indian banks continue to struggle with weak deposit growth. (ET)

• SEBI updates regulations for SME IPOs. (YS)

• Fitch removes Adani Energy from rating watch, marking its first upgrade since the U.S. indictment. (BS)

• No proposal for relief to the microfinance sector amid NPAs. (ET)

• India drives the surge in office leasing across the APAC region. (ET)

There are no mainboard IPOs this week.

M&A / Investments

• Sun Pharma to acquire U.S.-based onco-derma firm Checkpoint for $355 million (BS).

• DSP acquires fintech startup Volt Money, backed by Titan Capital. (EN)

Debt

• Tata Capital plans to raise $750 million through ECBs. (BS)

• Sunsure Energy is in discussions to raise ₹5,000 crore in debt. (ET)

• Capital Infra Trust announces raising ₹2,363 crore through NCDs. (BS)

VC